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Cabot (CBT) investor relations material
Cabot Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Q3 FY25 Adjusted EPS was $1.90, flat sequentially and down 1% year-over-year; diluted EPS was $1.86.
Reinforcement Materials EBIT declined 6% to $128M, while Performance Chemicals EBIT rose 4% to $57M.
Returned $64M to shareholders via dividends and share repurchases in Q3.
Announced acquisition of Bridgestone's reinforcing carbons plant in Mexico for $70M, expected to close in H1 FY26 and be accretive in year one.
Achieved EcoVadis Platinum sustainability rating for the fifth consecutive year.
Financial highlights
Q3 FY25 net sales were $923M, down $93M year-over-year due to lower volumes and pricing.
Operating cash flow for Q3 was $249M; free cash flow was $188M after $61M in capex.
Cash and cash equivalents at quarter-end were $239M; liquidity stood at $1.4B.
Net debt to EBITDA ratio was 1.3x at quarter-end.
Capex for Q3 was $61M; full-year capex expected between $250M–$275M.
Outlook and guidance
Reaffirmed FY25 Adjusted EPS guidance of $7.15–$7.50, with potential upside if tariffs boost demand.
Q4 segment EBIT expected to be consistent with prior year; modest decline in Reinforcement Materials and lower Performance Chemicals EBIT anticipated.
Operating tax rate for FY25 projected at 27%–29%.
Sufficient liquidity is anticipated for operational and capital needs for the next twelve months.
Focus remains on cost management, network optimization, and disciplined commercial execution.
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